Disney conducting layoffs

[Tink-osophy]

They need actual Disney family members to run the business again.

Having the right last name doesn't make someone any good at business. ...

If I understand correctly, I think the point Buzz Rules is making is that they need someone who cares about what Disney means/used to mean. ...Not someone who runs the business alone, necessarily, but, certainly, someone who leads/contributes heavily from that more pure Disney perspective.

 

[HashberryOTG]

There is so much more to Disney than the parks. The parks seem to be wnat some people see exclusively when they hear Disney corporate news. Also, a hiring freeze rarely means your customer facing service jobs. There are a ton of open and approved service positions that are likely to remain as such.

 

[Buzz Rules]

If I understand correctly, I think the point Buzz Rules is making is that they need someone who cares about what Disney means/used to mean. ...Not someone who runs the business alone, necessarily, but, certainly, someone who leads/contributes heavily from that more pure Disney perspective.

This.

 

[DLgal]

So they're raising ticket prices and removing the staff who make the experience magical?
Y'all, I predict we are the last generation who will really love Disney.

No. These layoffs and hiring freezes won't be down at that level. They are eliminating redundant corporate positions, mostly.

 

[declansdad]

No. These layoffs and hiring freezes won't be down at that level. They are eliminating redundant corporate positions, mostly.

Has this been confirmed somewhere?

 

[DLgal]

Has this been confirmed somewhere?

Considering it was an internal memo that only went out to department heads at various corporate levels, it can be surmised.

 

[declansdad]

Considering it was an internal memo that only went out to department heads at various corporate levels, it can be surmised.

That's a big assumption.

 

[bcla]

That's a big assumption.

This article has the full memo.

https://www.cnbc.com/2022/11/11/disney-plans-hiring-freeze-job-cuts-memo-says.html

 

[katmigordon]

After this holiday cruise we're looking at doing the same - if I could get my money back instead, we would.

And in turn, I am on a WDW vacation freeze

 

[declansdad]

This article has the full memo.

https://www.cnbc.com/2022/11/11/disney-plans-hiring-freeze-job-cuts-memo-says.html

But it doesn't get specific.

 

[bcla]

But it doesn't get specific. fcrtyuiopoiuygtfredswedrtyuiop[]

OK - I didn't see the chain of comments. I was thinking you were questioning if there would be layoffs at all.

 

[VandVsmama]

The article mentions SG&A, which is selling, general, and administrative expenses. Freezing new hiring is usually the 1st thing to go before layoffs. Then there's halting of all non-essential travel, but you'd be surprised how much stuff is deemed to be 'essential' travel in a large business like Disney.

From reading the Chapek memo, it sounds like anybody in marketing should be worried.

 

[DLgal]

That's a big assumption.

It's really not. Read between the lines.

Laying off park CMs is not a money saver. Eliminating bloated corporate positions with salaries and health insurance and 401k matches IS.

 

[bcla]

It's really not. Read between the lines.

Laying off park CMs is not a money saver. Eliminating bloated corporate positions with salaries and health insurance and 401k matches IS.

That's provided to all CMs. Obviously the salaried workers are probably getting paid more and are likely to be requesting a lot higher matches. But the health insurance is the same for all employees, although I'd think the contributions for salaried workers is likely to be a higher proportion of their own income.

https://nb.fidelity.com/public/cons...e=DisneyAE_2021_BenefitsSummaryChartOT_R4.pdf

 

[DLgal]

That's provided to all CMs. Obviously the salaried workers are probably getting paid more and are likely to be requesting a lot higher matches. But the health insurance is the same for all employees, although I'd think the contributions for salaried workers is likely to be a higher proportion of their own income.

https://nb.fidelity.com/public/cons...e=DisneyAE_2021_BenefitsSummaryChartOT_R4.pdf

I can't open that file.

Part time parks CMs get 401k matching and health insurance?

 

[bcla]

I can't open that file.

Part time parks CMs get 401k matching and health insurance?

It sounds like health insurance is for full time, but probably includes hourly employees. 401k matching apparently kicks in after a year of service and CMs are eligible for contributions after 90 days.

I had to use a cached version since the link from Fidelity seems to freeze up, but here it is:

https://workplaceservices.fidelity....uments/Retirement Service Definition Tool.pdf​

Disney 401(k) Plan​

The Basics​

ELIGIBILITY SERVICE​

If you are a Disney employee age 18 or older, you’re eligible to invest your own contributions 90 days after your date of hire. After you’ve worked at Disney for at least one year (regardless of the number of hours you worked), the Company will begin matching your contributions—a percentage of every dollar you contribute up to 4% of your base pay.​

 

[DLgal]

It sounds like health insurance is for full time, but probably includes hourly employees. 401k matching apparently kicks in after a year of service and CMs are eligible for contributions after 90 days.

I had to use a cached version since the link from Fidelity seems to freeze up, but here it is:

https://workplaceservices.fidelity....uments/Retirement Service Definition Tool.pdf​

Disney 401(k) Plan​

The Basics​

ELIGIBILITY SERVICE​

If you are a Disney employee age 18 or older, you’re eligible to invest your own contributions 90 days after your date of hire. After you’ve worked at Disney for at least one year (regardless of the number of hours you worked), the Company will begin matching your contributions—a percentage of every dollar you contribute up to 4% of your base pay.​

Regardless, they are not laying off part time parks employees, or even full time ones. They are still actively hiring those roles. They literally have a cheesy freeway roadside sign up outside the casting building at WDW.

 

[declansdad]

It's really not. Read between the lines.

Laying off park CMs is not a money saver. Eliminating bloated corporate positions with salaries and health insurance and 401k matches IS.

Reading between the lines is making an assumption, that is what I am saying.

 

[DLgal]

Reading between the lines is making an assumption, that is what I am saying.

Okay.

 

[Ms.Minnie]

You can certainly find people who were pretty good at running business A, but had absolutely no clue how to run business B. Case in point, Elon Musk and Twitter, which he is running into the ground, and it's not really clear why other than maybe he overestimated his abilities and might be able to walk away by defaulting on his loan obligations.

Isn't it a little too soon to tell how the whole Twitter thing will turn out? I heard today he (Elon Musk) is ending free lunch because of cost and since so many people don't even come into work on a daily basis, can't say as I blame him. I think we need to give it a little time before we declare that he has run the company into the ground. I for one hope he is successful.